SpaceX (NASDAQ:SPCX) Trading Down 1.2% – Time to Sell?

SpaceX (NASDAQ:SPCX) fell 1.2% during mid-day trading on Friday . The company traded as low as $147.32 and last traded at $147.95. 48,565,585 shares traded hands during trading, a decline of 54% from the average session volume of 104,831,750 shares. The stock had previously closed at $149.74.

SpaceX News Roundup

Here are the key news stories impacting SpaceX this week:

• Positive Sentiment: Analysts and investors continue to point to strong operating momentum. SpaceX reported second-quarter revenue of approximately $7.8 billion, up 92% year over year, while Starlink added 1.7 million subscribers. Coverage also cited rapid growth in AI and connectivity revenue, strengthening the thesis that SpaceX is becoming more than a launch company. SpaceX Briefly Reclaims $2 Trillion Market Cap
• Positive Sentiment: SpaceX’s AI-computing business is attracting customers reportedly including Google and Anthropic, while management is investing aggressively in data-center capacity. Bulls view the space-connectivity-AI combination as a potential long-term growth engine. Elon Musk Says Google and Anthropic Turned to SpaceX for AI Compute
• Positive Sentiment: Investors are positioning ahead of Starship Test 14, expected in the coming weeks. A successful test could support SpaceX’s plans for reusable heavy-lift rockets and future satellite, communications and orbital-computing businesses. SpaceX Starship Test 14 Could Be Days Away
• Neutral Sentiment: A planned Falcon 9 launch from Vandenberg over the Labor Day weekend is receiving broad public attention, but the routine mission is unlikely to materially change SpaceX’s financial outlook. SpaceX Vandenberg Labor Day Weekend Liftoff
• Neutral Sentiment: Analyst sentiment is divided. Oppenheimer reportedly raised its target to $280 based on AI growth, while other commentators argue that much of SpaceX’s success is already reflected in its valuation.
• Negative Sentiment: The Sept. 9 share unlock is the most immediate overhang. Newly eligible insider and employee shares could increase supply and create selling pressure after the recent rally. All Eyes Are on SpaceX’s Next Share Unlock
• Negative Sentiment: SpaceX reportedly spent $18.4 billion in one quarter, including $15.8 billion on AI. While this could accelerate growth, it raises capital-spending, execution and cash-flow risks, particularly as the company remains GAAP-loss-making. SpaceX Spent $18.4 Billion in a Single Quarter
• Negative Sentiment: Commentary also flags regulatory and community opposition surrounding proposed AI data centers, as well as uncertainty over ambitious revenue projections. These issues reinforce concerns that SPCX’s valuation leaves limited room for execution disappointments.

Analysts Set New Price Targets

SPCX has been the subject of several research analyst reports. Moffett Nathanson initiated coverage on SpaceX in a report on Tuesday, July 7th. They issued a “neutral” rating and a $131.00 price objective for the company. New Street Research raised shares of SpaceX to a “strong-buy” rating in a report on Thursday, June 11th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SpaceX in a research note on Monday. Wells Fargo & Company dropped their target price on shares of SpaceX from $230.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Roth Capital raised shares of SpaceX to a “buy” rating in a research note on Monday, June 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $221.20.

SpaceX Stock Performance

The stock has a 50 day moving average price of $136.26. The company has a current ratio of 5.12, a quick ratio of 4.99 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.93 trillion and a PE ratio of -1,643.89.

SpaceX (NASDAQ:SPCX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.17. The firm had revenue of $7.81 billion during the quarter. The firm’s revenue was up 91.9% compared to the same quarter last year. Analysts expect that SpaceX will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On SpaceX

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. bought a new stake in shares of SpaceX during the 2nd quarter worth about $5,094,000. Hyperion Asset Management Ltd bought a new position in SpaceX in the 2nd quarter worth approximately $201,137,000. Assenagon Asset Management S.A. bought a new stake in shares of SpaceX in the second quarter valued at approximately $2,502,000. Sage Capital Advisors llc bought a new position in SpaceX during the second quarter worth $3,254,000. Finally, Rik Saylor Financial Inc. acquired a new position in SpaceX during the 2nd quarter valued at $1,670,000.

About SpaceX

SpaceX, or Space Exploration Technologies Corp., is an American aerospace company focused on the design, manufacture and launch of advanced rockets and spacecraft. The company develops launch vehicles and space systems used for commercial, government and scientific missions, with a strong emphasis on lowering the cost of access to space through reusable rocket technology.

Founded in 2002 by Elon Musk, SpaceX has built a broad portfolio of products and services that includes the Falcon 9 and Falcon Heavy rockets, the Dragon spacecraft and the Starship development program.